New bottom in the making

11 באפר׳ 2020

BTCUSDT

Pay attention to the downward RED trend lines and see how it played out the last time.

1. I expect a bounce now to 7000-7100 range and rejection from the bottom RED trend line

2. Then after going down, the next bounce will be because of the 200 MA and the bottom of the cloud. Let's say it will bounce from 6400 ish to 6800-6900 range

3. Once BTC has made at least 3-4 bounces then it could dump so this could be dragged until mid-May before we see a dump (I'm not sure to what price. Maybe 3k to 4k range if we are super bearish). It would make sense if we go for the double bottom pattern.